A prospective insured completes and signs an application for health insurance but intentionally conceals information about a pre-existing heart condition. The company issues the policy. Two months later, the insured suffers a heart attack and submits a claim. While processing the claim, the company discovers the pre-existing condition. In this situation, the company will continue coverage but exclude the heart condition.
A type of insurance called health insurance pays for medical costs incurred as a result of disease. These costs might be connected to hospitalization charges, medication costs, or professional fees.
An agreement between an insurer and the policyholder is a health insurance plan. In exchange for receiving a premium from the policyholder, the insurance provider will cover the insured's medical costs, including those for hospitalization, daycare, post- and pre-hospitalization, etc.
In addition, access to quality healthcare and hospitalization bills may be financially challenging given the escalating cost of medical expenses. In light of this, obtaining health insurance for you and your family can offer the extra security you require in situations like this.
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